What is the Wealthman?
Wealthman is a platform delivering the open standard for trustless wealth management service. The trustless design is used to overcome fraud and deliver efficiency. The platform already has customers and plans to reach AUM of 2 billion dollars within 2 years.
What is the goal of Wealthman?
Wealthman plans to create the next-generation platform for building advisory, discretionary and robo-advisory services for digital assets, containing a set of marketing tools and crucial anti-fraud features.
What problem does Wealthman solve?
We are placing particular emphasis on solving situations where:
- investors don’t trust the wealth manager’s competency or honesty,
- there is centralized infrastructure security,
- the low-cost and high-speed of wealth management service deployment is essential.
Wealthman provides trustless, decentralized, high-capacity, and low-cost infrastructure by employing a the blockchain technology and off-chain layered protocols.
The platform allows for any user to start an advisory service, develop a decentralized robo-advisory, or build a complex DApp.
What is the future of Wealthman?
Wealthman’s long-term term vision is to build a trustless and distributed ecosystem for the best wealth management services and applications, to promote good wealth management practices, and to guarantee transparent, fast, and reliable transactions for all participants.
What is the Wealthman architecture?
Wealthman platform has been built at the intersection of three technological innovations:
- smart contracts and distributed ledgers extended by distributed databases;
- IP protected computing adopted to the trustless, distributed environment and designed for high performance;
- secure cryptography protocols for distributed platform participants and nodes.
The core platform applications are: 1) Wealthman platform distributed application (WPA), 2) Wealthman distributed exchange (WEX), 3) Wealth management distributed application (WMA), 4) Wealth investment distributed application (WIA), 5) data/computing marketplace and off-chain services (Providers).
DApps are built on Wealthman blockchain network (WBC), Wealthman distributed database (WDB) and second dedicated blockchain exchange network (WEX) for the best performance and scalability.
How will the first Wealthman generation be implemented?
The first generation Wealthman multichain architecture will be implemented as a public permissioned blockchain (WBC) bridged to Ethereum mainnet and other crucial networks with the architecture patterns presented in [Plasma].
What is WPA?
WPA stands for the Wealthman Platform DApps.
The aim of WPAs is to provide core implementation for Wealthman protocol both on-chain (contracts/ddb) and off-chain (Oracles/Hubs).
WPAs will manage many aspects of the platform functionality including:
- Registration, updating, and verification of public accounts (personal and business information);
- Extended profiles;
- Lists of investors, managers, and data providers;
- Multisig shared deposits;
- Proofs of other data, events, and offline facts.
What is WIA?
A Wealth Investment DApp (WIA) is an application designed for investors to search and interact with managers, robo-advisors, and management dapps, to deposit and withdraw funds, and to monitor investments or investment directly.
WIA enables investors to set up their personal investment preferences, including risk tolerance, strategies, goals, and preferred assets.
What is WMA?
A Wealth Management DApp (WMA) is designed to help wealth managers monitor, manage, and update investment portfolios, either manually or semi-/fully automatically.
WMA also allows managers to promote themselves or their robo-advisory service using a variety of available marketing tools. WMA provides integration to WPA for extended profiles.
Managers can trade manually on the internal exchange (WEX) or external exchanges.
What is WEX?
Wealthman’s internal Distributed Exchange (DEX or WEX for Wealthman Exchange) allows users to buy/sell assets with minimal fee and latency. WEX also supports off-chain OTC transactions. Wealthman DEX is a hybrid exchange operating on the blockchain as well as the off-chain layers.
What are the advantages of WEX?
Digital assets processed on different networks can be tokenized on Wealthman exchange (WEX) for quick low fee exchange and transfer. For example, frequent BTC trading is impossible on bitcoin main network, but if tokenized on Wealthman platform there is no problem to do that. Any kind of assets could be tokenized on Wealthman platform even if it wasn’t digitalized before.
What roles are on the Wealthman platform?
Wealthman platform main roles
Manager - an individual or an organization who provides investment management services personally or semi- or fully automated by distributed software on the platform.
Investor - a person or an organization interested in transferring non-exclusive ownership to managers or management software on the platform for a period of time in exchange for income.
Provider – a person or an organization represented as a node or nodes who provides off-chain data, or data computing, external computing resources, or tools of integration to other networks.
Broker – a person or an organization who provides external assets usage and tokenization manually or programmatically (represented as a node or nodes).
Miner (Maintainer) – a person or an organization represented by a distributed node (‘db node’) or nodes, with the aim to earn fees by “mining” and other network support and maintenance.
Team – the Wealthman protocol and platform creators and developers.
DApp developer – a person or an organization who develops distributed applications (DApps) on Wealthman distributed infrastructure.
Guest - unknown person who is interested in checking out the platform.
Depending on their role on the platform, every Wealthman member follows a unique protocol to interact with the platform and other on-chain and off-chain entities; this functionality is implemented in
The entities concerned (with the exception of guests) hold private keys and are Wealthman users under set rights and obligations.
How Wealthman members use the DApp portal and data/computer marketplace?
Investors can find and compare wealth managers on DApps’ portal using digital metrics we provide. They can then choose best-suited Managers to provide them a personal or semi-/fully automated investment advice.
Managers can promote their services to Investors. They can also use the DApp portal to hire developers for new strategies, simulations or any other implementations for their advisory business. They can also seek out data providers to buy specific data sets necessary for their advisory work.
Providers can sell data, computing power, and off-chain services, to both Managers and DApp developers.
What is the function of Data provider?
Providers connect Wealthman platform to the outside world.
Decentralization of platform prevents a single point of failure, and many providers are organized in a network to mitigate risks of failure or malicious action that could jeopardize continuity or reliability of the data.
We recognize two kinds of providers. The external data providers with the necessary functionality to push data from external data sources to smart-contracts or distributed database and vice versa.
And the computing resources providers or the off-chain protocols support computing, decentralized providers.
What is the Wealthman’s Revenue Model?
Wealthman earns 20 percent of the fees from the Wealth Management Services exchanged between Managers and Investors, and the Data-Provider Services between Managers and Data Providers.
This fee is the initial fee set at the start of platforms functioning and can be later changed by the Token holder’s vote.
What is AWM token?
Wealthman platform native token (AWM) is an ERC20 compatible token represented on multichain bridged space and used for all Wealthman transactions similarly to gas. AWM is also used in stake voting and stake validation for data provision, and as a currency for purchasing Wealthman microservices.
What is AWM token used for?
AWM token is used as:
- a fuel for transactions performed on Wealthman’s platform similar to gas price;
- a currency for purchasing microservices on Wealthman’s DAO like contract creation, reporting, etc.;
- a stake to validate the conditions of data provision. The AWM token stake is held frozen in smart contract and covers against the risk of disruption of the continuity and correctness of the data supplied to asset managers;
- a voting stake on the platform.
All Wealthman platform users must have a minimal amount of AWM tokens to initiate any transactions on the platform.
What are the advantages of a Robo-advisor?
Robo-advisor is a low-cost alternative to conventional advisors. By eliminating human labor, online solutions can offer the same services at a lower cost. Most robo-advisors charge an annual fee of 0.2% to 0.5% of the client's net assets value (NAV). Robo-advisors are also more accessible, being available 24/7 as long as the user has an Internet connection. Moreover, they have such advantages as: access to a human advisor, tax optimization, and portfolio rebalancing.
What is a Robo-advisor?
A robo-advisor is a digital instrument, which provides an automated, algorithm-driven wealth management service with little to no human supervision. Typically, robo-advisor collects information about client’s goals and financials via online survey. Then, robo-advisor analyzes the market data and automatically manages the client's assets in accordance to client’s investment goals.